Cryptocurrency markets are experiencing a notable rise on Tuesday, driven by anticipation around President Trump’s upcoming tariff announcements. Data from IntoTheBlock indicates that the volume of large transactions has surged by nearly 80%, with a corresponding jump in daily active addresses by almost 30%. On a single day, transactions exceeding $100,000 increased from 6,309 to 10,147, while exchanges are seeing a steep decline in netflows.
Other market data comes from Coinglass, where reports show that 86,684 traders have been liquidated over a 24-hour period, amounting to losses of approximately $240.13 million. Additionally, crypto chart analyst Ali Martinez has observed that more than 21,000 Bitcoin have been transferred to exchanges during the past 96 hours, suggesting heightened trading activity.
while one research firm describes Bitcoin as being in a mini bear market, TitanDex CEO Chris Chung stresses the importance of ethical practices within the crypto industry. Furthermore, political and financial figures are weighing in on Bitcoin’s potential, with a congressman shifting his investment focus towards a Bitcoin ETF after offloading significant stock holdings, Eric Trump commending Bitcoin as a reliable store of value, and Peter Schiff cautioning that Bitcoin represents digital risk rather than digital gold.
In addition to these headlines, several traders are providing technical insights into Bitcoin’s near-term behavior. One trader, Jelle, points out that Bitcoin is drawing a higher low after a prolonged two-month period, and suggests that breaking above $88,000 could signal a bullish reversal. Other technical analyses highlight key resistance levels for both Bitcoin and Ethereum, with expectations of further gains if these levels are surpassed.
Looking ahead, trader Ansem envisions Bitcoin bottoming in the second quarter, potentially followed by a period of range-bound trading until the end of the year. He identifies short-term support and resistance regions between $66,000 and $72,000, noting that even in a worst-case scenario, Bitcoin might fall to $50,000. However, this bearish outlook could be overturned if Bitcoin exhibits clear strength above $95,000, reinforcing its potential for a long-term target of $250,000 by 2028.